An increase in the demand for labor means that
A) the demand for labor increases as a result of an increase in the real wage rate.
B) the demand for labor increases at any real wage rate.
C) the supply of labor must also be increasing.
D) the demand for labor increases as a result of a decrease in the real wage rate.
Question 2
The Phillips curve is thought to reflect the relationship between
A) unemployment and inflation. B) the price level and inflation.
C) unemployment and real GDP. D) inflation and real GDP.
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